Curbstone Financial Management Corp reduced its stake in Johnson & Johnson (NYSE:JNJ – Get a rating) by 0.7% in the 1st quarter, Holdings Channel.com reports. The fund held 29,320 shares of the company after selling 210 shares during the period. Johnson & Johnson accounts for 1.0% of Curbstone Financial Management Corp’s holdings, making the stock its 26th largest holding. Curbstone Financial Management Corp’s holdings in Johnson & Johnson were worth $5,196,000 when it last filed with the SEC.
Other hedge funds and other institutional investors also changed their stakes in the company. BlackRock Inc. increased its stake in Johnson & Johnson shares by 2.6% in the fourth quarter. BlackRock Inc. now owns 200,021,352 shares of the company worth $34,217,654,000 after purchasing an additional 4,982,885 shares in the last quarter. State Street Corp increased its position in Johnson & Johnson shares by 1.8% in the fourth quarter. State Street Corp now owns 144,677,639 shares of the company valued at $24,750,004,000 after purchasing an additional 2,492,359 shares last quarter. Geode Capital Management LLC increased its stake in Johnson & Johnson by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 44,405,610 shares of the company valued at $7,576,867,000 after purchasing an additional 1,084,834 shares in the last quarter. Norges Bank bought a new position in shares of Johnson & Johnson in the fourth quarter for a value of approximately $4,172,929,000. Finally, Legal & General Group Plc increased its stake in Johnson & Johnson by 5.8% during the fourth quarter. Legal & General Group Plc now owns 17,420,146 shares in the company worth $2,980,062,000 after purchasing an additional 948,306 shares during the period. 68.78% of the shares are held by institutional investors and hedge funds.
NYSEJNJ opened at $179.52 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.39 and a debt ratio of 0.39. Johnson & Johnson has a 52-week low of $155.72 and a 52-week high of $186.69. The company’s 50-day moving average price is $177.37 and its 200-day moving average price is $173.74. The company has a market capitalization of $472.39 billion, a P/E ratio of 24.19, a P/E/G ratio of 3.61 and a beta of 0.66.
Johnson & Johnson (NYSE:JNJ – Get a rating) last released its quarterly results on Tuesday, April 19. The company reported earnings per share (EPS) of $2.67 for the quarter, beating analyst consensus estimates of $2.60 by $0.07. Johnson & Johnson had a return on equity of 36.59% and a net margin of 20.90%. The company posted revenue of $23.43 billion for the quarter, versus analyst estimates of $23.62 billion. In the same quarter last year, the company posted earnings per share of $2.59. The company’s revenue increased 5.0% year over year. As a group, analysts expect Johnson & Johnson to post earnings per share of 10.23 for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7. Investors of record on Tuesday, May 24 received a dividend of $1.13 per share. The ex-dividend date was Monday, May 23. This represents a dividend of $4.52 on an annualized basis and a dividend yield of 2.52%. This is a positive change from Johnson & Johnson’s previous quarterly dividend of $1.06. Johnson & Johnson’s dividend payout ratio (DPR) is currently 60.92%.
A number of equity research analysts have weighed in on JNJ shares. Credit Suisse Group raised its price target on Johnson & Johnson shares from $200.00 to $205.00 and gave the company an “outperform” rating in a Wednesday, April 20 research report. Citigroup lowered its price target on Johnson & Johnson shares from $210.00 to $205.00 in a Tuesday, May 17 research note. Morgan Stanley cut its price target on Johnson & Johnson shares from $175.00 to $173.00 and set an “equal weight” rating for the company in a Wednesday, April 6 research report. Sanford C. Bernstein downgraded Johnson & Johnson shares from an ‘outperforming’ rating to a ‘market performing’ rating and raised its price target for the stock from $180.00 to $183.00 in a Wednesday, March 16 research report. Finally, Daiwa Capital Markets began covering Johnson & Johnson shares in a research report on Wednesday, June 22. They set an “outperform” rating for the company. Four investment analysts gave the stock a hold rating, six gave the company a buy rating and one gave the company a high buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.50.
In other Johnson & Johnson news, CAO Robert J. Decker sold 8,462 Johnson & Johnson shares in a trade that took place on Thursday, May 26. The stock was sold at an average price of $180.00, for a total value of $1,523,160.00. Following the sale, the accounting director now owns 15,473 shares of the company, valued at approximately $2,785,140. The sale was disclosed in a filing with the Securities & Exchange Commission, available via the SEC website. Also, insider William Haiti sold 29,699 Johnson & Johnson shares in a trade that took place on Thursday, April 21. The shares were sold at an average price of $183.58, for a total value of $5,452,142.42. Following the completion of the sale, the insider now directly owns 80,236 shares of the company, valued at approximately $14,729,724.88. Disclosure of this sale can be found here. Insiders sold a total of 78,161 shares of the company worth $13,895,302 in the past ninety days. 0.35% of the shares are held by insiders.
Johnson & Johnson Profile (Get a rating)
Johnson & Johnson, together with its subsidiaries, researches and develops, manufactures and sells various healthcare products worldwide. The Company’s Consumer Health segment offers baby care products under the JOHNSON’S and AVEENO Baby brands; oral care products under the LISTERINE brand; skin health/beauty products under the brands AVEENO, CLEAN & CLEAR, DR.
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